Vancouver-based social media management systemHootSuite is looking to social media giants, LinkedIn, Facebook, Witter and Google to help the company raise a $50 million round at a $500 million valuation, according to reports from Tech Crunch.

Web giants investing in HootSuite?

Facebook, Google, LinkedIn and Twitter, according to Tech Crunch’s Ingrid Lunden, were described by her source as having a “great relationship” with HootSuite. The source said HootSuite wanted an arrangement that would give all parties an “upside in HootSuite’s success.”

In March this year, OMERS Ventures, a Canadian VC firm, had taken a $20 million stake in HootSuite. Before that HootSuite had investments worth $4.9 million ($3 million in debt and only $1.9 million in capital investment).

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SherWeb launches SkyOffice

SheWeb, a Montreal-based hosted services provider, today announced the launch of a cloud-based collaboration suite designed specially for small and medium businesses.

SherWeb said its SkyOffice service is the only “comprehensive Office 365” hosted solution for SMBs. It offers Microsoft Office 365 core functionalities, including Microsoft Exchange 2010, Lync 2010 and SharePoint 2010, phone and tablet synchronization, and other features, according to Techvibes.

Mathew Cessar, co-founder and executive vice-president of SherWeb, said SkyOffice will provide SMB owners an affordable and efficient communication and collaboration sutite with 24/7 support.